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April 23, 2018

Legal Experts: TPLF Transparency Likely to Catch On

A number of legal and business experts told the West Virginia Record that more states are likely to follow Wisconsin’s lead in requiring third party litigation funding transparency in state courts.

Kevin LaCroix, attorney and executive vice president of an insurance brokerage firm and legal blogger, said it’s “inevitable” that litigation funding disclosure is “going to become standard practice.” An attorney from Nelson Mullins Riley & Scarborough said “all parties should be apprised of the agreement” since litigation funding “passes control of the litigation to non-lawyers who are not bound to protect their clients’ interest.”

U.S. Chamber Institute for Legal Reform President Lisa A. Rickard called the Wisconsin law “groundbreaking” since it “brings litigation funding out of the shadows.”  

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